Azalea Terrace North, Sunderland

About the property

INVESTMENT OPPORTUNITY TO ACQUIRE A SUBSTANTIAL FREEHOLD MID TERRACE VICTORIAN HOUSE LOCATED ON THE EDGE OF THE CITY CENTRE IN AN ESTABLISHED AREA POPULAR WITH STUDENTS & TENANTS WITHIN A SHORT WALK OF PARK LANE METRO STATION AND CITY CENTRE. CURRENTLY USED AS THREE SELF-CONTAINED FLATS BUT PREVIOUSLY USED AS FOUR ... WITH THE ABILITY TO CONVERT BACK TO FOUR WE WOULD EXPECT THIS PROPERTY TO ACHIEVE AN ANTICIPATED REASONABLE ANNUAL RENTAL INCOME OF £14,000. The property has been well maintained generally and has the added valuable benefit of having had a new roof replacement in recent years. There is secure parking to the rear. All bathrooms and kitchens within the property are well presented. To the ground floor there are two self contained flats, (one one bedroom and one studio). Both of these are unoccupied. To the first floor there is a further studio flat (flat 3) which is occupied and currently generating £99pw rent and to the second floor there is a further one bedroom attic flat which is currently occupied by the tenant below on an informal basis. Potential investors may be able to consider the possibility of a full and formal conversion into four leasehold flats with shared entrance. Accompanied viewing arrangements can be made by contacting our local office. Read more

INVESTMENT OPPORTUNITY TO ACQUIRE A SUBSTANTIAL FREEHOLD MID TERRACE VICTORIAN HOUSE LOCATED ON THE EDGE OF THE CITY CENTRE IN AN ESTABLISHED AREA POPULAR WITH STUDENTS & TENANTS WITHIN A SHORT WALK OF PARK LANE METRO STATION AND CITY CENTRE. CURRENTLY USED AS THREE SELF-CONTAINED FLATS BUT PREVIOUSLY USED AS FOUR ... WITH THE ABILITY TO CONVERT BACK TO FOUR WE WOULD EXPECT THIS PROPERTY TO ACHIEVE AN ANTICIPATED REASONABLE ANNUAL RENTAL INCOME OF £14,000. The property has been well maintained generally and has the added valuable benefit of having had a new roof replacement in recent years. There is secure parking to the rear. All bathrooms and kitchens within the property are well presented. To the ground floor there are two self contained flats, (one one bedroom and one studio). Both of these are unoccupied. To the first floor there is a further studio flat (flat 3) which is occupied and currently generating £99pw rent and to the second floor there is a further one bedroom attic flat which is currently occupied by the tenant below on an informal basis. Potential investors may be able to consider the possibility of a full and formal conversion into four leasehold flats with shared entrance. Accompanied viewing arrangements can be made by contacting our local office.

INTRODUCTIONINVESTMENT OPPORTUNITY TO ACQUIRE A SUBSTANTIAL FREEHOLD MID TERRACE VICTORIAN HOUSE LOCATED ON THE EDGE OF THE CITY CENTRE IN AN ESTABLISHED AREA POPULAR WITH STUDENTS & TENANTS WITHIN A SHORT WALK OF PARK LANE METRO STATION AND CITY CENTRE. CURRENTLY USED AS THREE SELF-CONTAINED FLATS BUT PREVIOUSLY USED AS FOUR ... WITH THE ABILITY TO CONVERT BACK TO FOUR WE WOULD EXPECT THIS PROPERTY TO ACHIEVE AN ANTICIPATED REASONABLE ANNUAL RENTAL INCOME OF £14,000. The property has been well maintained generally and has the added valuable benefit of having had a new roof replacement in recent years. There is secure parking to the rear. All bathrooms and kitchens within the property are well presented. To the ground floor there are two self contained flats, (one one bedroom and one studio). Both of these are unoccupied. To the first floor there is a further studio flat (flat 3) which is occupied and currently generating £99pw rent and to the second floor there is a further one bedroom attic flat which is currently occupied by the tenant below on an informal basis. Potential investors may be able to consider the possibility of a full and formal conversion into four leasehold flats with shared entrance. Accompanied viewing arrangements can be made by contacting our local office.

FRONTLow maintenance well presented/maintained front garden with wrought iron railings situated within a street of similarly attractive and substantial period buildings within walking distance of the City Centre and Park Lane metro station.

ENTRANCE HALLLaminate wood effect flooring, carpeted stairs to first floor. Doors leading off to front ground floor one bedroom flat, door leading off to rear yard, door leading off to ground floor studio flat. Door to under stairs cupboard with 3 gas meters, one of which is connected to the Studio Flat and one to flats three and four combined. Please note that the ground floor flat only has electric heating. Separate storage cupboard.

FLAT THREEDoor leading into entrance hall. Shelving and hanging space. Door leading off to lounge.

LOUNGE21' 8'' x 13' 7'' (6.60m x 4.14m)£99pw rent paid by an existing tenant at the time of preparing these particulars who has a periodic tenancy. Originally the lounge was actually a lounge and separate single bedroom however the petition dividing wall has been removed to create a larger living space which could still be used as an open plan studio type flat in the current layout. Should a petition wall be returned, a separate access door from the entrance hall could be created to allow separate doorways into a lounge and bedroom. Carpet flooring, single convector radiator, two wooden framed double glazed sash windows front facing, door leading off to kitchen.

SECOND FLOOR LANDINGIt would be possible to fit a small compact kitchen on the second floor landing if necessary to create a self contained flat whilst leaving the other rooms in their current layout. Alternatively, the second bedroom/dressing room wall which divides the landing and dressing room could be removed to create a larger space. Two doors leading off, one to lounge and one to bedroom. Wooden frame double glazed velux style roof light to landing proving lots of light to the space.

SECOND BEDROOM/DRESSING ROOM10' 4'' x 7' 0'' (3.15m x 2.13m)Carpet flooring, single convector radiator. Please note that originally there was a skylight window in this room which was removed when the new roof was installed. A new buyer could install a window if necessary depending on the intended use of the room.

EXTERNALThe property has benefited from a new roof in recent years which is a considerable financial benefit on properties of this age, height and size. To the rear are electric roller shutter garage doors providing access to the large rear yard which is approximately 45' in length with additional space for refuse bins etc.